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Now that we’re at the end of our 12 money-saving tips, it’s become pretty apparent that as an entrepreneur implementing frugality tactics is crucial. We’ve gone through a bunch ways to help you save time and money — everything from how to maximize deductions and networking hacks to ways to be more productive, along with […]
If you’ve ever worked for someone else, you’re probably familiar with FICA. It’s a tax that funds the Social Security and Medicare programs and is automatically withdrawn from your paycheck. If you’re self-employed, however, things are a little different. When you pay FICA, which is about 15% of your earnings, you’re actually only paying half […]
Early stage entrepreneurs who are focused on growing their business know every last dollar counts. You work hard for your money. That’s why we want to help you find more ways to keep it. Writing off your phone expenses is one of example of how you can do just that. Getting your money back gives […]
The more you learn, the more you earn. Deduct education expenses. Education is vital for every entrepreneur, no matter your age or experience level. It’s true that you’re never too old to go back to school, and there’s a good chance it could cost you next to nothing and provide valuable new skills. There are many […]
Can you automate parts of your business? Work efficiently and you will budget efficiently. If you’re wasting your time, you’re wasting your money. Automate. Streamlining where possible is key for small companies and entrepreneurs trying to compete with the big dogs. If you have bottlenecks in your process that can be mitigated through the use […]
Set money saving goals Setting goals and keeping track of expenses sounds so simple, yet many of us come up short in this area. Doing this right could be the difference between ramen profitability and leapfrogging your breakeven point. Keep in mind that what you need to earn to hit your financial goals will be […]
As an entrepreneur, you’re inevitably going to wear many hats. It’s easy to overextend yourself in the name of quality control — like a kid in a candy store, you want to touch everything. Eventually that mentality will have negative consequences, so learning how to edit yourself is key. It’s important to consider outsourcing. Draw […]
Your network is your net worth! Get out of your comfort zone and start networking. Building your business without support from other entrepreneurs is a great way to run out of cash fast. Here are 5 ways to expand your network and meet more entrepreneurs. (With a bonus tip!) Join an Incubator As Y Combinator […]
Working 24/7 has been over-glorified in the entrepreneurial community. What we too often forget is what separates great entrepreneurs from good ones is: efficiency. If the Pareto principle tells us 80% of the effects-output comes from 20% of the causes-input, we have to ask ourselves if we’re really being productive or just staying busy? Here […]
One of the top three reasons why startups fail is because they don’t have enough money to keep their doors open. Consider some ways to deduct startup costs. Maximizing deductibles to relinquish cash is crucial for the longevity of early stage startups. Have you started a company recently? Did you incur some expenses before you […]
To maximize automotive deductions, it’s important to remember to keep organized records of the transportation expenses you incur. The IRS states that you need adequate records and documentary evidence. It could seem daunting depending on how you manage your finances. Automating the process with tools like Veryfi make it extremely easy to track. There are […]
Every year, more and more entrepreneurs are switching to their home office as their primary place of work. Do you work from a home office? Writing off your home office can significantly help put money back in your pocket. For entrepreneurs and self employed this means more cash in hand; for a new contractor? Marketing […]
On the first day of Christmas we’re saving more money! We’re singing a different tune as we approach the new year. In honor of “12 days of Christmas”, we wanted to gift you 12 tips to help you save more money in 2018. We believe one of the best gifts you can give is education […]
1. Take Action First come’s first serve – On halloween and in business. Remember that great idea you had? You kept talking about it, but didn’t do anything to make it happen… Later you saw something similar on the market. You threw your hands up, “Hey! I thought of that” Familiar? We know how it […]
Bill splitting is a new Veryfi feature that gives you the ability to segment a bill/receipt by different expense categories.
So your done with last months receipts and you want to store them away in a vault for future proof. This means you do not want to see them in your documents view but you want easy access to them. Enter “archive”. Archive is your 2nd bucket for documents Think of archive as another bucket. […]
Looking for a way to update the vendor logo with a better version? If so, here’s how to do this. What is a vendor logo A vendor logo is associated with every document you scan into Veryfi. In both hub and mobile documents views. On the hub (web portal) a vendor with a missing logo […]
Yes, tax office accepts digital receipts. IRS – Internal Revenue Service (U.S. gov) IRS has allowed electronic tax records and digital (scanned) receipts since 1997. But you must adhere to IRS guidelines governing “electronic storage systems.”. This means that the record of your receipt in digital form must be “look clear and legible” so should […]
